With Tesla Inc. (NASDAQ:TSLA) releasing affordable trims of the Model Y and the Model 3 in the U.S. priced at $39,990 and $36,990, respectively, here's a look at some other affordable EV options in the market.
Chevrolet Bolt EV
General Motors Co. (NYSE:GM) recently announced its most affordable electric vehicle on sale in the U.S., the Chevrolet Bolt EV. The vehicle offers 255 miles of range and is powered by a 65 kWh LFP battery supplied by Chinese battery giant Contemporary Amperex Technologies Ltd. (CATL).
The Bolt EV also boasts a native NACS charging port, offering charging speeds of up to 150 kW. GM offers the base LT trim for $28,995, while the range-topping RS Trim is available for $32,000.
Hyundai Kona Electric
The Hyundai Motor Co. (OTC:HYMLF) Kona Electric is another affordable electric vehicle option on sale in the U.S. Priced at MSRP $32,975, the Kona Electric is powered by a 48.6 kWh battery, offering 200 miles of range with the base spec SE trim.
Higher trim levels include a 64.8 kWh battery that offers 260 miles of range, with the top-end Limited trim available for around MSRP $41,150. Hyundai also recently extended benefits on the Ioniq 5 EV despite the end of the Federal EV credit and also announced a price cut for the vehicle.
Nissan Leaf
The Nissan Motor Co. (OTC:NSANY) Leaf, which was once a pioneering EV option in the U.S., continues to remain an affordable option in the market. Priced at $29,990 for the base trim, the Leaf is the Japanese automaker's most affordable all-electric option.
The Leaf offers a 300-mile range for the base trim and features a 75kWh battery standard across all trim levels. The EV also supports 150 kW fast-charging and produces 214 HP from its electric motor.
It's worth noting that Nissan recently issued a recall for over 19,077 units from the 2021 and 2022 model years over a potential fire risk involving units equipped with a Level 3 Quick Charging port.
Nissan is also reportedly exploring partnerships with Ford Motor Co. (NYSE:F) as well as Stellantis NV (NYSE:STLA) to develop an electrified version of the Rogue SUV.
Toyota bZ
The final entry in the list is Toyota Motor Corp's (NYSE:TM) bZ, the Japanese automaker's sole electric offering in the market, which retails for MSRP $34,990. The EV is powered by a 74.7 kWh battery offering a range of 314 miles for the XLE FWD Plus trim, while the range-topping Limited (MSRP $43,330) trim offers a 299-mile range for the Limited FWD, per Toyota.
The vehicle comes standard with an NACS port and offers DC fast charging capabilities. Despite the bZ being the company's only electric model in the U.S., Toyota recently announced a partnership with Sumitomo Metal Mining Co., Ltd. (OTC:SMMYY) to develop solid-state EV batteries, offering better range and faster charging times.
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